Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its stake in Prudential Financial, Inc. (NYSE:PRUFree Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,693 shares of the financial services provider’s stock after purchasing an additional 1,049 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Prudential Financial were worth $3,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cambridge Trust Co. increased its stake in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Prudential Financial during the fourth quarter worth $26,000. Headinvest LLC acquired a new stake in Prudential Financial during the third quarter worth $27,000. Arlington Trust Co LLC increased its stake in Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Janiczek Wealth Management LLC increased its stake in Prudential Financial by 49.6% during the fourth quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the sale, the senior vice president now owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the sale, the senior vice president now owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $117.37 on Tuesday. Prudential Financial, Inc. has a one year low of $83.34 and a one year high of $121.39. The company has a market cap of $42.14 billion, a PE ratio of 19.96, a P/E/G ratio of 0.88 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The business has a 50-day simple moving average of $115.26 and a 200-day simple moving average of $109.24.

Prudential Financial (NYSE:PRUGet Free Report) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.04). The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.66 EPS. On average, equities research analysts forecast that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $121.00 to $143.00 in a report on Wednesday, May 22nd. Morgan Stanley lifted their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI lifted their target price on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Piper Sandler dropped their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, UBS Group lifted their target price on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $115.25.

Check Out Our Latest Report on PRU

About Prudential Financial

(Free Report)

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.

See Also

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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